Medtronic plc (NYSE:MDT) Shares Sold by Weaver C. Barksdale & Associates Inc.

Weaver C. Barksdale & Associates Inc. lowered its position in shares of Medtronic plc (NYSE:MDT) by 1.6% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 14,739 shares of the medical technology company’s stock after selling 237 shares during the quarter. Weaver C. Barksdale & Associates Inc.’s holdings in Medtronic were worth $1,160,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. M&G Plc acquired a new stake in shares of Medtronic in the first quarter worth $259,160,000. Capital Research Global Investors boosted its position in Medtronic by 7.1% during the 1st quarter. Capital Research Global Investors now owns 30,884,412 shares of the medical technology company’s stock worth $2,691,577,000 after purchasing an additional 2,044,109 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in Medtronic by 145.4% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,372,641 shares of the medical technology company’s stock valued at $195,431,000 after purchasing an additional 1,405,978 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in Medtronic by 26.8% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 6,237,032 shares of the medical technology company’s stock valued at $513,807,000 after purchasing an additional 1,318,590 shares during the period. Finally, Morningstar Investment Services LLC lifted its stake in shares of Medtronic by 207.7% during the fourth quarter. Morningstar Investment Services LLC now owns 1,551,322 shares of the medical technology company’s stock worth $128,341,000 after purchasing an additional 1,047,210 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Performance

MDT stock opened at $89.47 on Friday. The firm has a market cap of $114.72 billion, a P/E ratio of 32.53, a P/E/G ratio of 2.57 and a beta of 0.84. The stock’s 50 day simple moving average is $84.55 and its 200 day simple moving average is $82.96. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55. Medtronic plc has a 12-month low of $68.84 and a 12-month high of $91.49.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The firm had revenue of $7.97 billion for the quarter, compared to analysts’ expectations of $7.90 billion. During the same quarter last year, the business posted $1.20 EPS. Medtronic’s revenue was up 3.4% on a year-over-year basis. As a group, equities research analysts predict that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be given a $0.70 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.13%. Medtronic’s dividend payout ratio (DPR) is presently 101.82%.

Analyst Upgrades and Downgrades

MDT has been the topic of several analyst reports. Citigroup dropped their target price on Medtronic from $90.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. UBS Group upgraded shares of Medtronic from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $76.00 to $90.00 in a research note on Thursday, August 15th. Oppenheimer upped their target price on shares of Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a research note on Wednesday, August 21st. Daiwa America raised shares of Medtronic to a “strong-buy” rating in a report on Friday, August 23rd. Finally, Truist Financial upped their price objective on shares of Medtronic from $85.00 to $90.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $92.92.

Medtronic Profile

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.